While Dubai possesses some of the most state-of-the-art hardware in its transport sector, integrating these devices into a single, smart structure has a been a long-term occupation of sector planners. Encouraging innovation in the software element of transport has been a priority for the government for many years, with the Dubai Smart City...
After years of speculation, an agreement signed in February 2016 has brought clarity regarding the introduction of value-added tax (VAT) to Dubai. The UAE, along with states around the Gulf, will begin to implement VAT from January 1, 2018, and will thereafter have a full year to fully establish the new tax.
To what extent will a federal Sharia Board ease doing business for Islamic banks in the UAE? CHILWAN: A federal Sharia Board is critical as an overseeing body. It will ensure alignment and adherence to sharia standards and will bring uniformity in the way Islamic banking is done today. Similar to other regulators such as the...
In 2015, for the first time, the rate of extreme poverty was projected to fall below 10%. Our research and experience tells us that three things have been critical to reducing poverty and boosting prosperity: inclusive economic growth, investments in health and education, and insuring against risks that can plunge the vulnerable into poverty...
Dubai’s economy is the result of a decades-long pursuit of diversification which has brought evolution into a variety of offerings, featuring services, finance, trade and global connectivity that has made the emirate a cross-continental meeting point for commerce. Dubai has felt the impact of the fall in crude prices since mid-2014, but it now...
The highlight of recent years for the insurance sector has been the long-awaited arrival of new regulations that promise a broad overhaul of several key areas of the sector: auditing, the calculation of technical provisions, governance, asset valuation, increased policyholder rights, and solvency and provisioning regulations. Those elements...
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